Lot 23 - FREEHOLD BLOCK OF THREE FLATS FOR INVESTMENT

Sold £326,000

Currently let at £16,788 per annum

An attractive mid-terrace four-storey property arranged as two, one-bedroom flats and one, three-bedroom maisonette, located in a quiet residential area.

The building is located close to Margates popular seafront and Old Town, potentially lending itself to holiday lets. Margates mainline railway station offers high speed links to London.

There is potential for the apartments to be sold individually on long leases or continue as an investment with potential for rent increases.

The property has been in the same family ownership for many years, has double glazed windows and a gas heating system via radiators.

Lower Ground Floor

Flat 1

Private entrance, living room with bay window, bedroom, kitchen, shower room with W.C.

Outside

Private garden to rear.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £440 per calendar month.

Upper Ground Floor

Communal entrance.

Flat 2

Entrance hall, living room with bay window, bedroom, kitchen/diner and bathroom with W.C.

Outside

Private garden to rear.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £460 per calendar month.

Upper Ground Floor

Flat 3

Stairs leading to first floor.

First Floor

Kitchen/diner, living room, two bedrooms and bathroom with W.C.

Second Floor

Bedroom.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a current rental of £499 per calendar month.

Each Flat Council Tax Band A

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/